# Question: The purchasing power value figures for the minimum wage in dollars

The purchasing-power value figures for the minimum wage in dollars for the years 1 through 18 are shown here. Use these data and exponential smoothing to develop forecasts for the years 2 through 18. Try α = .1, .5, and .8, and compare the results using MAD. Discuss your findings. Select the value of alpha that worked best and use your exponential smoothing results to predict purchasing power for year19.

## Relevant Questions

Shown below is the Excel output for a regression analysis to predict the number of business bankruptcy filings over a 16-year period by the number of consumer bankruptcy filings. How strong is the model? Note the residuals. ...Are the following data Poisson distributed? Use α = .05 and the chi-square goodness-of-fit test to answer this question. What is your estimated lambda?Number of Arrivals ... fo0 .......... 281 ......... 172 .......... 113 ...Use the following contingency table to test whether variable 1 is independent of variable 2.Let a α =.01.Use the chi-square contingency analysis to test to determine whether variable 1 is independent of variable 2. Use 5% level ofsignificance.Do men and women prefer the same colors of cars? That is, is sex independent of color preference for cars? Suppose a study is undertaken to address this question. A random sample of men and women are asked which of five ...Post your question